WesBanco Declares Initial Quarterly Cash Dividend Upon Its Perpetual Preferred Stock

Rhea-AI Summary

WesBanco has declared a quarterly cash dividend of $0.440625 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (WSBCP). This dividend is applicable for the period from August 11, 2020 to November 15, 2020 and will be paid on November 15, 2020 to shareholders on record as of November 2, 2020. The dividend reflects WesBanco's commitment to returning value to shareholders while maintaining a stable financial position.

Positive

• Declared cash dividend of $0.440625 per depositary share.
• Demonstrates commitment to shareholder value.
• Provides income for shareholders.

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• None.

WHEELING, W.Va., Oct. 22, 2020 /PRNewswire/ -- WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today that its Board of Directors has declared a quarterly cash dividend on the outstanding shares of its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") (Nasdaq: WSBCP).  The declared cash dividend on the Series A Preferred Stock is for the period from August 11, 2020, up to, but excluding November 15, 2020.  The declared cash dividend equates to $0.440625 per depositary share, or $17.625 per share of the Series A Preferred Stock outstanding.  The cash dividend is payable on November 15, 2020 to shareholders of record on November 2, 2020.

About WesBanco, Inc.
Founded in 1870, WesBanco, Inc. (www.wesbanco.com) is a diversified and balanced financial services company that delivers large bank capabilities with a community bank feel.  Our distinct long-term growth strategies are built upon unique sustainable advantages permitting us to span six states with meaningful market share.  Built upon our 'Better Banking Pledge', our customer-centric service culture is focused on growing long-term relationships by pledging to serve all personal and business customer needs efficiently and effectively.  In addition to a full range of online and mobile banking options and a full-suite of commercial products and services, WesBanco provides trust, wealth management, securities brokerage, and private banking services through our century-old Trust and Investment Services department, with approximately $4.6 billion of assets under management (as of  September 30, 2020).  WesBanco's banking subsidiary, WesBanco Bank, Inc., operates 235 financial centers in the states of Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and West Virginia.  Additionally, WesBanco operates an insurance agency, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities, Inc.

 

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SOURCE WesBanco, Inc.

FAQ

What is the dividend amount declared by WesBanco for WSBCP?

WesBanco has declared a quarterly cash dividend of $0.440625 per depositary share on its 6.75% Non-Cumulative Perpetual Preferred Stock, Series A (WSBCP).

When is the dividend payment date for WesBanco's Series A Preferred Stock?

The dividend payment date is November 15, 2020.

What is the record date for WesBanco's dividend payment?

The record date for the dividend payment is November 2, 2020.

What period does the declared dividend cover for the Series A Preferred Stock?

The declared cash dividend covers the period from August 11, 2020, to November 15, 2020.